VeriPark, a global leader in omnichannel customer experience solutions for the financial services industry, has announced a strategic partnership with a coalition of leading Canadian credit unions and financial institutions. This coalition, including First West Credit Union, Prospera Credit Union, DUCA Credit Union, and Coastal Community Credit Union, aims to drive innovation, improve member experiences, and position its members for long-term success in a dynamic financial landscape.
Canadian financial institutions have long been leaders in delivering personalized and community-focused banking experiences. Recognizing the rapid pace of technological change and evolving member expectations, this coalition has come together to build on their collective strengths and create a Canadian digital banking product. This product will not only reflect the specific needs of Canadian financial institutions but also benefit from a global codebase, a dedicated Canadian coalition codebase, and allow flexibility for individual institutions to differentiate by developing additional features and capabilities if desired. The partnership with VeriPark is an exciting opportunity to further enhance member engagement, deliver new capabilities, and provide a seamless, secure digital experience that reflects the way Canadians live and bank today.
“The partnership with VeriPark represents a uniquely Canadian solution that combines local expertise with global best practices,” said Darrell Jaggers, CIO & Chief Transformation Officer, First West Credit Union. “Our goal is to build on our successes and provide members with even more innovative, personalized digital banking services that align with their evolving lifestyles.”
VeriPark, founded in 1998, has a proven track record of helping financial institutions worldwide transform their digital capabilities. With expertise across internet and mobile banking, VeriPark’s platform empowers financial institutions to offer cutting-edge services while maintaining their unique identities. By partnering with VeriPark, the coalition will leverage a robust, scalable platform while simultaneously contributing to extending the Canadian-focused digital banking product.
In addition to internet and mobile banking, the partnership will include an optional public website solution powered by Adobe Experience Manager, designed to deliver a consistent, engaging, and high-performing digital presence. Institutions can choose to adopt this solution or seamlessly integrate other CMS platforms as per their requirements, reflecting the coalition’s commitment to offering flexible and customizable digital solutions.
Guiding principles for digital transformation
The coalition selected VeriPark based on key principles that align with their vision of delivering world-class financial services:
- Canadian-Centric Product Development: A digital banking product tailored specifically for Canadian financial institutions, designed to leverage the coalition’s shared insights while enabling each institution to innovate, develop, and utilize common solution components in a secure, independent manner—preserving their unique brand identity.
- Opportunity-Driven Innovation: Building on the coalition’s history of delivering excellent member services, this initiative aims to further elevate member experiences by introducing new digital capabilities.
- Microsoft Technology Stack Alignment: Leveraging Microsoft Azure, a highly secure, future-proof cloud platform, ensuring the solution remains adaptable and well-supported.
- Enhanced Security and Compliance: Implementing best-in-class security measures and aligning with OSFI and provincial regulator guidelines to foster trust and ensure compliance.
- Interoperability and Extensibility: Supporting open banking frameworks to enable seamless integration with third-party services and innovations.
- Commitment to Managed Services: Offering ongoing managed service and support to ensure continuous improvement and operational efficiency.
- Payments Platform Compatibility: Ensuring smooth integration with Central 1’s payment rails and enterprise fraud management systems, while also supporting compatibility with other payments platforms, such as PPJV, offering a flexible solution that can be adopted or integrated by individual institutions based on their needs.
Joining the coalition: Key benefits and how to get involved
This partnership embodies the spirit of collaboration that defines financial institutions. By joining the coalition, members gain access to:
- A uniquely Canadian solution tailored for local needs but enhanced by global innovation and best practices.
- The ability to compete with larger banks while maintaining independence.
- A solution selected after an exhaustive year-long assessment, ensuring access to global innovation.
- Alignment with Microsoft’s widely supported technology stack ensures long-term viability and ease of support.
Financial institutions interested in joining the coalition can contact Darrell Jaggers or any of the coalition CIOs for more information. The coalition also plans to launch a dedicated microsite with detailed information and resources.
Elevating member engagement
This partnership is focused on creating opportunities for financial institutions to enhance member engagement through innovative digital solutions. By harnessing VeriPark’s expertise and the coalition’s commitment to excellence, and the collaborative development of a Canadian product, participating institutions will be well-positioned to meet future customer and member needs proactively.
“The financial services sector is constantly evolving, and this partnership offers a unique opportunity to shape the future of digital banking in Canada,” said Barry Frame, Chief Sales Officer, VeriPark. “By combining VeriPark’s expertise with the coalition’s forward-thinking vision, we are confident in delivering a transformative banking experience for Canadians.”
Selim Hasan, Sales Director, VeriPark, added, “This partnership also underscores our growth strategy for North America, as we continue to expand our footprint and deliver innovative solutions tailored to the needs of financial institutions in this region.”
About VeriPark and the other credit unions in the coalition
- Veripark is a global solutions provider enabling financial institutions to become digital leaders by placing Customer Experience at the core of digital transformation. With an exclusive focus on FSI, VeriPark’s Intelligent Customer Experience suite delivers world class customer journeys in digital and assisted channels. With its main offices located in the United Kingdom, Europe, North America, Asia, Africa and the Middle East, VeriPark helps financial institutions to enhance customer acquisition, retention and cross-sell capabilities. Their proven, secure, and scalable solutions cover Customer Engagement, Omni-Channel Delivery, Branch Automation, and Loan Origination. VeriPark collaborates closely with clients, crafting innovative technology strategies and solutions that impact millions of people daily, bringing the promise of digital transformation to life.
- Prospera Credit Union: Built on 80 years of service in local communities, Prospera Credit Union is a community-based, purpose-driven organization that offers a full range of financial products and services.
- DUCA Credit Union: Founded in 1954, DUCA Financial Services Credit Union is a trusted financial partner for individuals, families, and businesses across Ontario. With over 95,000 Members and $7 billion in assets under management, DUCA offers a full range of banking products and services, including personal and business accounts, loans, mortgages, and investment solutions. Committed to cooperative values and community impact, DUCA helps its Members Do More, Be More, and Achieve More. Learn more at www.duca.com.
- Coastal Community Credit Union: As the largest credit union based on Vancouver Island, Coastal Community focuses on improving financial health and building stronger local communities.